Fin621 Online Quiz (04-05-2010)

Question # 1 of 15 ( Start time: 03:09:37 PM ) Total Marks: 1

Financial statements are a subset of which of the following?

Select correct option:



1. Financial reporting
2. Financial statement analysis
3. Accounting information
4. Accounting system




Question # 2 of 15 ( Start time: 03:12:19 PM ) Total Marks: 1

Which of the following is an example of an accrual?

Select correct option:



1. Equipment purchased for use in the business
2. Book-keeping fees collected but not yet earned
3. Six months’ rent paid in advance
4. Interest earned but not yet received





Question # 3 of 15 ( Start time: 03:13:46 PM ) Total Marks: 1

Which of the following is true about "After closing trial balance"?

Select correct option:



1. It may consist of balances of only Real and Personal accounts
2. It may consist of balances of only Nominal and Real accounts
3. It may consist of balances of Nominal, Real and Personal accounts
4. It may consist of balances of only Nominal and Personal accounts



Question # 4 of 15 ( Start time: 03:15:06 PM ) Total Marks: 1

Which of the following may include the “analyzing the transaction” the first step of the accounting cycle?

Select correct option:



1. Determining the transaction amount
2. Determining the effected accounts
3. Identifying the event as a transaction
4. All of the given options







Question # 5 of 15 ( Start time: 03:16:17 PM ) Total Marks: 1

The basic purpose of financial statements is to assist users in evaluating the________

Select correct option:

1. Financial position
2. Profitability of an organization
3. Future prospects
4. All of the given options



Question # 6 of 15 ( Start time: 03:16:56 PM ) Total Marks: 1

Which one of the following would lead to the decrease in the owner’s equity?

Select correct option:

1. Purchasing a piece of land
2. Paying dividends to shareholders
3. Purchasing equipment on account
4. Paying back the principal of a loan





Question # 7 of 15 ( Start time: 03:18:14 PM ) Total Marks: 1

Which of the following type of reports is most frequently used by external users, such as investors?

Select correct option:



1. Financial Statements
2. Tax Forms
3. Management Reports
4. Audit reports





Question # 8 of 15 ( Start time: 03:18:48 PM ) Total Marks: 1

How many parts does each account have?

Select correct option:



1. Two
2. Four
3. Three
4. Five



Question # 9 of 15 ( Start time: 03:19:19 PM ) Total Marks: 1

Identify the statement that is NOT true about the Incomes Account and Expenses Account:

Select correct option:

1. These are the temporary accounts
2. These are closed in Income summery account
3. These may included in closing trial balance
4. These are also known as Nominal Accounts







Question # 10 of 15 ( Start time: 03:20:47 PM ) Total Marks: 1

If the estimated amount of depreciation on equipment for a period is Rs.2000, the adjusting entry to record depreciation would be:

Select correct option:



1. Depreciation expense - Debit; Equipment - Credit
2. Depreciation expense - Debit; Accumulated depreciation - Credit
3. Equipment - Debit; Depreciation expense - Credit
4. Accumulated depreciation - Debit; Depreciation expense - Credit



Question # 11 of 15 ( Start time: 03:22:02 PM ) Total Marks: 1

Which of the following terms present a cause and effect relationship with each other?

Select correct option:


1. Income statement and balance sheet
2. Revenue and assets
3. Assets and liabilities
4. Revenues and expenses
not sure




Question # 12 of 15 ( Start time: 03:23:06 PM ) Total Marks: 1

Accounting is called the “language of business” because____________:

Select correct option:



1. It communicates the financial information to the Management only
2. In order to run a business one must have knowledge about accounting
3. Different business accounts are involved in financial statements
4. It helps to organize and communicate financial information to end users





Question # 13 of 15 ( Start time: 03:23:55 PM ) Total Marks: 1

Which one of the following statement shows the effects of cash inflows and outflows?

Select correct option:



1. Balance Sheet
2. Statement of Owner’s Equity
3. Income Statement
4. Statement of Cash Flows







Question # 14 of 15 ( Start time: 03:24:28 PM ) Total Marks: 1

Which of the following would represent a non-cash expense for the business?

Select correct option:



1. Cost of building
2. Cost of inventory
3. Cost of office equipment
4. Depreciation of building
5.




Question # 15 of 15 ( Start time: 03:25:12 PM ) Total Marks: 1

In which of the following account, a credit balance would be an evidence for a mistake or an error?

Select correct option:



1. Mr. A Capital Account
2. Cash account
3. Notes payable account
4. Drawings account













Question # 1 of 15 ( Start time: 03:27:58 PM ) Total Marks: 1

All of the following accounts would be closed in Income Summery Account EXCEPT:

Select correct option:



1. Commission earned account
2. Prepaid insurance
3. Salaries Expense account
4. Wages account





Question # 2 of 15 ( Start time: 03:28:56 PM ) Total Marks: 1

Which of the following is NOT one of the four basic financial statements?

Select correct option:



1. Balance sheet
2. Audit report
3. Income statement
4. Statement of cash flows
5.




Question # 3 of 15 ( Start time: 03:29:40 PM ) Total Marks: 1

Which of the following account would be classified as a current asset on the balance sheet?

Select correct option:



1. Accumulated depreciation
2. Accounts receivable
3. Office equipment
4. Land




Question # 4 of 15 ( Start time: 03:30:23 PM ) Total Marks: 1

Which of the following may include the “analyzing the transaction” the first step of the accounting cycle?

Select correct option:



1. Determining the transaction amount
2. Determining the effected accounts
3. Identifying the event as a transaction
4. All of the given options





Question # 5 of 15 ( Start time: 03:30:54 PM ) Total Marks: 1

Financial statements are a subset of which of the following?

Select correct option:



1. Financial reporting
2. Financial statement analysis
3. Accounting information
4. Accounting system







Question # 6 of 15 ( Start time: 03:31:32 PM ) Total Marks: 1

Which of the following account would NOT be closed to the income summary account at the end of a period?

Select correct option:



1. Rent expense
2. Revenue earned
3. Wages expense
4. Accumulated depreciation



Question # 7 of 15 ( Start time: 03:32:13 PM ) Total Marks: 1

A business has purchased a building on cash, how it would be recorded in the journal?

Select correct option:



1. Building - Debit; Cash - Credit
2. Cash - Debit; Building - Credit
3. Building - Debit; Owner’s equity - Credit
4. Building - Debit; Accounts Payable - Credit





Question # 8 of 15 ( Start time: 03:33:03 PM ) Total Marks: 1

Pre-paid expense is a(n) _________ type of account.

Select correct option:



1. Liability
2. Asset
3. Revenue
4. Expense not sure
5.




Question # 9 of 15 ( Start time: 03:33:56 PM ) Total Marks: 1

An entry that effects more than one accounts is knows as _____________.

Select correct option:



1. Journal entry
2. Compound entry
3. Adjusting entry
4. Reversing entry







Question # 10 of 15 ( Start time: 03:34:29 PM ) Total Marks: 1

Which of the following would be affected by the difference between revenues and expenses?

Select correct option:



1. Assets
2. Owner’s equity
3. Liabilities
4. Capital



Question # 11 of 15 ( Start time: 03:35:51 PM ) Total Marks: 1

According to _______ the personal expenses paid by Mr. A from his own pocket would not be recorded in business books of account.

Select correct option:



1. Realization principle
2. Separate entity principle
3. Matching principle
4. Materiality principle








Question # 12 of 15 ( Start time: 03:37:01 PM ) Total Marks: 1

Which of the following is true about the “Profit” earned by the business?

Select correct option:



1. It shows the amount that is received from the customer in cash only
2. It always results in increase in closing cash balance of a period
3. It affects the owner’s equity and liabilities in balance sheet
4. It may improves the liquidity position of a business
5.




Question # 13 of 15 ( Start time: 03:38:29 PM ) Total Marks: 1

Which of the following term refers to each element of the Balance Sheet?

Select correct option:



1. Ledger
2. Journal General
3. T- Account
4. Account





Question # 14 of 15 ( Start time: 03:39:37 PM ) Total Marks: 1

Which of the following is TRUE about both sides of the trial balance?

Select correct option:



1. Both sides are always positive
2. Both sides are negative
3. Both sides are equal
4. Both sides are not linked which each other
5.





Question # 15 of 15 ( Start time: 03:40:19 PM ) Total Marks: 1

Which of the following represents the negative future cash flows for an enterprise?

Select correct option:



1. Assets
2. Owner’s equity
3. Liabilities
4. Capital

Question # 1 of 15 ( Start time: 03:09:37 PM ) Total Marks: 1
Financial statements are a subset of which of the following?
Select correct option:

Financial reporting
Financial statement analysis
Accounting information
Accounting system

Question # 2 of 15 ( Start time: 03:12:19 PM ) Total Marks: 1
Which of the following is an example of an accrual?
Select correct option:

Equipment purchased for use in the business
Book-keeping fees collected but not yet earned
Six months’ rent paid in advance
Interest earned but not yet received

Question # 3 of 15 ( Start time: 03:13:46 PM ) Total Marks: 1
Which of the following is true about "After closing trial balance"?
Select correct option:

It may consist of balances of only Real and Personal accounts
It may consist of balances of only Nominal and Real accounts
It may consist of balances of Nominal, Real and Personal accounts
It may consist of balances of only Nominal and Personal accounts
Question # 4 of 15 ( Start time: 03:15:06 PM ) Total Marks: 1
Which of the following may include the “analyzing the transaction” the first step of the accounting cycle?
Select correct option:

Determining the transaction amount
Determining the effected accounts
Identifying the event as a transaction
All of the given options

Question # 5 of 15 ( Start time: 03:16:17 PM ) Total Marks: 1
The basic purpose of financial statements is to assist users in evaluating the________
Select correct option:

Financial position
Profitability of an organization
Future prospects
All of the given options

Question # 6 of 15 ( Start time: 03:16:56 PM ) Total Marks: 1
Which one of the following would lead to the decrease in the owner’s equity?
Select correct option:

Purchasing a piece of land
Paying dividends to shareholders
Purchasing equipment on account
Paying back the principal of a loan


Question # 7 of 15 ( Start time: 03:18:14 PM ) Total Marks: 1
Which of the following type of reports is most frequently used by external users, such as investors?
Select correct option:

Financial Statements
Tax Forms
Management Reports
Audit reports

Question # 8 of 15 ( Start time: 03:18:48 PM ) Total Marks: 1
How many parts does each account have?
Select correct option:

Two
Four
Three
Five

Question # 9 of 15 ( Start time: 03:19:19 PM ) Total Marks: 1
Identify the statement that is NOT true about the Incomes Account and Expenses Account:
Select correct option:

These are the temporary accounts
These are closed in Income summery account
These may included in closing trial balance
These are also known as Nominal Accounts


Question # 10 of 15 ( Start time: 03:20:47 PM ) Total Marks: 1
If the estimated amount of depreciation on equipment for a period is Rs.2000, the adjusting entry to record depreciation would be:
Select correct option:

Depreciation expense - Debit; Equipment - Credit
Depreciation expense - Debit; Accumulated depreciation - Credit
Equipment - Debit; Depreciation expense - Credit
Accumulated depreciation - Debit; Depreciation expense - Credit

Question # 11 of 15 ( Start time: 03:22:02 PM ) Total Marks: 1
Which of the following terms present a cause and effect relationship with each other?
Select correct option:

Income statement and balance sheet
Revenue and assets
Assets and liabilities
Revenues and expenses

Question # 12 of 15 ( Start time: 03:23:06 PM ) Total Marks: 1
Accounting is called the “language of business” because____________:
Select correct option:

It communicates the financial information to the Management only
In order to run a business one must have knowledge about accounting
Different business accounts are involved in financial statements
It helps to organize and communicate financial information to end users

Question # 13 of 15 ( Start time: 03:23:55 PM ) Total Marks: 1
Which one of the following statement shows the effects of cash inflows and outflows?
Select correct option:

Balance Sheet
Statement of Owner’s Equity
Income Statement
Statement of Cash Flows

Question # 14 of 15 ( Start time: 03:24:28 PM ) Total Marks: 1
Which of the following would represent a non-cash expense for the business?
Select correct option:

Cost of building
Cost of inventory
Cost of office equipment
Depreciation of building

Question # 15 of 15 ( Start time: 03:25:12 PM ) Total Marks: 1
In which of the following account, a credit balance would be an evidence for a mistake or an error?
Select correct option:

Mr. A Capital Account
Cash account
Notes payable account
Drawings account

Mgt201 FM Solution IDea

MGT201 Assignment#1 Idea solution.

Net increase in revenues in 1 year 510000
Less: Operating cost of branch (230000+20000) 250000
260000
Add: Depreciation 100000
Operating Earnings before Taxes: 360000
Operating earnings after taxes 360000
Net Cash Flow (NCF1) 360000
NPV= ΣCFt/ (1+i) t
NPV=360000/(1+0.09) 1
NPV=360000/(1.09) 1
NPV=360000/1.09
NPV=330275.2294

So on 10 years....

Net Present Value (NPV):
NPV= -IO+ΣCFt/ (1+i) t
1 year330275
2303005
3277986
4255033
5233975
6214656
7142229
8150560
9161150
10190085
total2258954

NPV= -IO+ΣCFt/ (1+i) t
=-1000000+2258954
=1258954

Eco401 GDB Solution

“Suppose a growing world with positive real income and economic growth. There are some lower income countries producing goods for basic necessities of life. If income of the poor people belonging to lower income countries increases, they move towards the luxurious goods like cars and air conditioners etc. Since, income elasticity of luxurious goods is positive i.e. as income increases; demand also increases. So, with the increase in income, demand of luxurious goods from abroad will increase because such types of goods are not produced domestically in lower income countries.”

Required:
Keeping in view the above scenario, what will be the effect of high demand of luxuries goods from abroad on the balance of payment of lower income countries?

NOTE: Give answer in JUST TWO LINES not more than that.

Solution:-
Due to the high demand of luxuries goods from abroad, there will be negitive effect on the balance of payment due to the increase in the trade deficite of the lower income country ,, so the balance of payment effect is surely negitive.

Another Solution:-
It will put negative impact and show (trade deficit) on balance of payments of lower income countries as luxuries goods require high payments in dollar form to countries from where they are imported.

Another Solution:-
wealth being wasted presently will negatively affect the natural law of income increase discussed earlier and will negatively effect the overall demand of luxury goods from abroad in the future.

Mgmt624 HRM624 Conflict Mgmt Online Quiz

Question # 1 of 15 ( Start time: 11:05:43 PM )	Total Marks: 1
Which of the following provides a rigorous and clear framework for understanding and appreciating the multiple facets of any conflict?
Select correct option:
Commercial conflict Conflict resolution Conflict diagnosis Systematic conflict

Question # 2 of 15 ( Start time: 11:06:45 PM )	Total Marks: 1
“We have met the enemy and it is us”, quoted by the:
Select correct option:
Ben Okri Walt Kelly Mao Zedong Stuart Hampshire

Question # 3 of 15 ( Start time: 11:07:34 PM )	Total Marks: 1
Ten themes of conflict diagnosis are helpful in:
Select correct option:
Understanding nature of conflict Making better use of ADR Resolving conflict All of the given options

Question # 4 of 15 ( Start time: 11:08:55 PM )	Total Marks: 1
In a conflict diagram the purpose of one tailed arrows is to indicate __________ between participants.
Select correct option:
Communication Relationships Participation Conflicts

Question # 5 of 15 ( Start time: 11:10:17 PM )	Total Marks: 1
Which of the following is often unconscious to be given good performance in every situation?
Select correct option:
Reinforcement Determination Confidence Motivation

Question # 6 of 15 ( Start time: 11:11:01 PM )	Total Marks: 1
Which one of the following mainly shows individuals and their relationships to one another?
Select correct option:
Sociomap Sociogram Interception Determination

Question # 7 of 15 ( Start time: 11:11:47 PM )	Total Marks: 1
Efforts to apply alternative blueprints largely fail because:
Select correct option:
There is little support from others People lack proficiency in using new tools People try to use old tools to address alternative blueprints All of the given options

http://vustudents.ning.com

Question # 8 of 15 ( Start time: 11:13:11 PM )	Total Marks: 1
________________ allows the user to choose the best blueprint and the best tools to handle a conflict well.
Select correct option:
Conflict diagnosis Commercial conflict Conflict resolution Systematic conflict

Question # 9 of 15 ( Start time: 11:13:58 PM )	Total Marks: 1
Which of the following is a disagreement or difference of opinion of two persons or two parties?
Select correct option:
Dispute Collision Conciliation Adjudication

Question # 10 of 15 ( Start time: 11:15:24 PM )	Total Marks: 1
Which of the following is Not a major type of assisted negotiation?
Select correct option:
Agent Mediation Nonbinding Evaluation None of the given options http://vustudents.ning.com

http://vustudents.ning.com

Question # 11 of 15 ( Start time: 11:16:55 PM )	Total Marks: 1
Many conflictive situations have more than one __________.
Select correct option:
Agency conflict Personal conflict Interpersonal conflict Intrapersonal conflict

Question # 12 of 15 ( Start time: 11:18:19 PM )	Total Marks: 1
Usually the sources of conflict are __________ and many of them are __________.
Select correct option:
Multiple, hidden Multiple, obvious Less than 5, hidden http://vustudents.ning.com Less than 5, obvious

Question # 13 of 15 ( Start time: 11:19:20 PM )	Total Marks: 1
Being in conflict with the wrong person, would be the:
Select correct option:
Misattributed conflict Misaligned conflict Misplaced conflict Displaced conflict

Question # 14 of 15 ( Start time: 11:20:51 PM )	Total Marks: 1
Which of the following emotion led to more integrative and compromised strategies by the partner?
Select correct option:
Disappointment Anger Pride Guilt

Question # 15 of 15 ( Start time: 11:23:05 PM )	Total Marks: 1
Who said that “It is essential to the sanity of mankind that each should think the other crazy…”?
Select correct option:
Walt Kelly Neil Johnson Hillarie Belloc Emily Dickinson

Conflict Management Latest Solved Online Quiz 03-05-2010